The last day of February and one day before the debt ceiling deadline. But no one seems too concerned about it. Somehow these crises have always proved to be only a temporary fly in the ointment in the past and the market response to this issue has been to simply ignore it.
The folks at CNBC think its no big deal, just another little speed bump in the markets rise. It's all about profits and a careful analysis of what otherwise seems like a dismal situation for workers and small businesses turns out to be a win-win for the big banks, big oil and large corporations.
In the meantime, the simple T6 bullish model continues to modestly outperform the SPY.
Note the position of the TrendX SPY in the side panel and the position of the blue equity line vs. the RSQ on the 4 month chart.
These are bullish, until proven otherwise.